Government to Review Ticket Pricing as Oasis Reunion Tour Costs Soar, Leaving Fans Frustrated

Sky-high ticket prices for Oasis reunion tour deemed 'disheartening' as government pledges to examine variable pricing strategies

"Time to revisit our frustration," posted an Oasis enthusiast online, voicing dismay over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The administration has committed to investigating variable ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during their sale.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that surge pricing would be examined in a government review of the resale market for concert tickets.

On Saturday, devotees of the globally renowned music group spent hours in online lines, eager to secure tickets for next year's highly anticipated reunion concerts.

After enduring long lines and extended delays, numerous individuals were confronted with ticket costs significantly exceeding their original price.

Outrage spread across social media when tickets initially priced at £148 surged to £355 on Ticketmaster shortly after becoming available, a spike attributed to the dynamic pricing models employed.

During a weekend address, Ms. Nandy stated that the government plans to examine the problems associated with queuing systems and the technology that encourages them in a forthcoming consultation.

She expressed disappointment, noting, "Following the exhilarating announcement of Oasis's reunion, it's disheartening to witness the exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans as the core focus of the music industry."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technologies that support queuing systems which encourage this practice."

"By collaborating with artists, the industry, and supporters, we can develop a more equitable system that eliminates the problems of scalpers, overpriced resales, and guarantees fairly priced tickets."

What is dynamic pricing?

Ticketmaster rolled out this demand-driven pricing strategy in 2022.

The measure was implemented to prevent scalping and to increase the revenue that artists receive.

When ticket demand is high and supply is low, prices tend to increase.

In response to frustration regarding the cost of tickets for Oasis, the company clarified that they do not determine pricing, and provided a link to a website explaining that prices could be either "fixed or subject to market fluctuations."

On its official site, Ticketmaster explains that the pricing for "Platinum" tickets varies based on market fluctuations in supply and demand.

The purpose of the dynamic pricing system is to ensure that fans can obtain tickets in a fair and secure manner, while also allowing artists and event organizers to set prices that are more aligned with the actual market value of the tickets.

The firm asserts that it is the artists, along with their management and event organizers, who determine the prices and decide if dynamic pricing will apply to their events.

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Cabinet member Lucy Powell was affected by surge pricing this past Saturday, ultimately paying over twice the initially stated price for a ticket to see Oasis perform.

The Competition and Markets Authority (CMA) supported the announcement of the government's review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets on the secondary market, and we have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe additional safeguards for consumers are essential, and it's encouraging that the government is keen to tackle this issue. We are eager to collaborate with them to secure optimal results for both supporters and businesses that play by the rules."

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The announcement of the band's highly anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely used in various sectors, not just music, including in the travel industry for things like hotel accommodations and flight fares.

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Jack Antonoff, a regular collaborator with Taylor Swift, has expressed concerns about dynamic pricing in the past.

He shared with Stereogum that his goal was for artists to have the freedom to withdraw from the system and set their own prices for sales.

Attempts have been made to reach Ticketmaster for a statement.

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